HoDooi.com is proud to announce further use cases for the HOD token have launched, including Staking and Farming! Token holders now have the option to Stake, Farm, or Stake and Farm their HOD tokens, with Staking APR starting at 14,837.85% and Farming APR starting at 2,508.99%!
This has been built on a HoDooi.com Staking and Farming platform, where we will be inviting specific partners to join us and bring their token community to Farm in exclusive HoDooi.com Partnering Farming Programmes.
To begin Staking and Farming go here: Staking and Farming.
How do we use the Pool?
HoDooi.com pools allow you to provide liquidity by adding your HOD tokens to the Liquidity Pools.
After providing your HOD token to the Liquidity Pool, you will, in turn, receive HOD tokens within your “HOD EARNED” area, where you will be able to Harvest your tokens directly to your chosen wallet.
The number of HOD tokens you receive is decided upon the current APR %, the lower the APR % the higher the level of liquidity in the pool. You can Harvest your HOD tokens every two hours after the locking period.
Here is a simple step-by-step guide on how to use the HoDooi.com Liquidity Pools.
Step 1: Connect your wallet, HoDooi.com suggest the use of MetaMask
Click the Connet Wallet button in either the top right or in the middle of the page next to ‘Start Staking’.
Step 2: Choose your chosen wallet to connect to the HoDooi.com Stake and Earn
The user must then choose their wallet to connect, HoDooi.com suggests its users use MetaMask. If you need to learn further information regarding How to Connect wallets then follow the Learn How to Connect button.
Step 3: Choose the amount of HOD token you wish to add to the Pool
Users must then decide the amount of token they wish to Stake in the Pool, to do this they can type the amount within the top circled box, choose 25%, 50%, 75%, or Max – this will be referring to the amount of HOD token in your wallet. Or if you need HOD you can click ‘Get HOD’ to purchase some.
Step 4: Confirm your Stake within the Pool
Once you have decided on the amount you wish to Stake in the Pool, review your Estimated Gas Fee, ensuring you have BNB in your wallet to cover this. Then click Confirm.
Step 5: Your Liquidity is live
Once confirmed you will be able to see this, your tokens have successfully been added in the pool. A few things to note:
APR, is the term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for a whole year, rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate. The APR of the pool is dictated by the Total staked tokens, the more staked tokens the lower the APR.
Total staked is the total amount of HOD tokens staked within the pool.
Withdrawal Lockup is the timeframe in which your tokens will be locked within the liquidity pool.
HOD earned is the total amount of HOD tokens earned before harvesting.
HOD staked is the total amount of HOD tokens you have staked within the liquidity pool.
Step 6: Harvesting your HOD tokens
Once your lockup period has finished, you can harvest your tokens straight to your wallet. To do this you will need BNB in your wallet to cover the gas fee. Simply click ‘Harvest’ then the screen below will show, review your Estimated gas fee and once happy click Confirm.
You have successfully harvested from the HoDooi.com Pool.
What is Staking?
Cryptocurrency staking involves “locking up” a portion of your cryptocurrency for a period of time as a way of contributing to a blockchain network. In exchange, speakers can earn rewards, typically in the form of additional coins or tokens – this is exactly what we are doing with the HOD Staking Programme, giving the token holders the opportunity to earn HOD by locking up their cryptocurrency.
What is Farming?
HoDooi.com Farming Programme incentivizes liquidity providers (LP) to stake or lock up their HOD token in a smart contract-based liquidity pool. These incentives can be a percentage of transaction fees, interest from lenders, or a governance token. These returns are expressed as an annual percentage yield (APY). As more investors add funds to the related liquidity pool, the value of the issued returns decrease accordingly.
Recently on HoDooi.com…
HoDooi.com debuted with the heavyweight boxing champ Tyson Fury’s NFT collection, with the “Lineal by Tyson Fury” NFT selling for a record-breaking $987,000. HoDooi.com also collaborated with Shannon Briggs and Cris Cyborg over recent months to bring out two NFT collections on the marketplace, some of which are still available!
HoDooi.com has recently announced has entered the Play to Earn world, partnering with Black Eye Galaxy to bring HoDooi.com’s token into the Space world.
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